Polyneuron Pharma raise CHF22.5m in Series A financing

Polyneuron Pharmaceuticals AG develops glycopolymers that mimick epitopes of autoantibodies attacking the nervous system, providing a new strategy to specifically prevent autoimmune disease symptoms without curbing the rest of the immune system. The company said it will use the proceeds from the Series A financing to conduct Phase Ia trial of the company’s lead candidate PN-1007 that targets anti-MAG neuropathy, an orphan nervous system disease. Futhermore, the company will push forward preclinical development of three injectible glycopolymer candidates identified by its Antibody-Catch™ platform.

Upon the financing, Polyneuron added Graziano Seghezzi (Sofinnova Partners), and David Mott (NEA) to its its Board of Directors . 

Polyneuron was founded as a University of Basel, Department of Pharmaceutical Sciences, spin-off in 2014 by Dr. Ruben Herrendorff (CEO), Dr. Pascal Hänggi (CSO), Prof. Beat Ernst, an expert in carbohydrate-based drug discovery, and neurologist Prof. Dr. med. Andreas J. Steck, an expert in autoimmune disorders of the nervous system. The company is supported by the BaseLaunch Accelerator initiative.
 
PN-1007 was designed to target the IgM autoantibodies that cause anti-MAG neuropathy, a disabling chronic disorder of the peripheral nervous system that has no approved treatment. PN-1007 mimics the natural HNK-1 carbohydrate epitope and binds to the circulating disease-causing antibodies. By eliminating these pathogenic antibodies, PN-1007 may protect the integrity of the neuronal myelin sheaths of anti-MAG patients.

Polyneuron currently focuses on autoimmune diseases which involve autoantibodies against carbohydrate epitopes.